M. Kraus & Co Boosts Stock Holdings in Microchip Technology Incorporated (NASDAQ:MCHP)

M. Kraus & Co lifted its holdings in shares of Microchip Technology Incorporated (NASDAQ:MCHPGet Rating) by 0.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 96,688 shares of the semiconductor company’s stock after purchasing an additional 773 shares during the period. Microchip Technology comprises approximately 2.2% of M. Kraus & Co’s investment portfolio, making the stock its 21st largest holding. M. Kraus & Co’s holdings in Microchip Technology were worth $5,616,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. National Pension Service raised its stake in shares of Microchip Technology by 0.5% during the 1st quarter. National Pension Service now owns 965,371 shares of the semiconductor company’s stock worth $72,538,000 after purchasing an additional 4,777 shares during the period. Teacher Retirement System of Texas raised its stake in Microchip Technology by 58.0% in the 1st quarter. Teacher Retirement System of Texas now owns 229,212 shares of the semiconductor company’s stock valued at $17,223,000 after acquiring an additional 84,148 shares during the period. Fisher Asset Management LLC raised its stake in Microchip Technology by 28.6% in the 1st quarter. Fisher Asset Management LLC now owns 3,354 shares of the semiconductor company’s stock valued at $252,000 after acquiring an additional 746 shares during the period. NEXT Financial Group Inc raised its stake in Microchip Technology by 88.0% in the 4th quarter. NEXT Financial Group Inc now owns 18,272 shares of the semiconductor company’s stock valued at $1,591,000 after acquiring an additional 8,555 shares during the period. Finally, Pendal Group Ltd bought a new stake in Microchip Technology in the 1st quarter valued at about $459,000. 89.81% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CFO James Eric Bjornholt sold 2,379 shares of the company’s stock in a transaction dated Tuesday, August 23rd. The shares were sold at an average price of $68.21, for a total value of $162,271.59. Following the completion of the sale, the chief financial officer now directly owns 35,333 shares of the company’s stock, valued at $2,410,063.93. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Microchip Technology news, CFO James Eric Bjornholt sold 2,379 shares of the stock in a transaction dated Tuesday, August 23rd. The shares were sold at an average price of $68.21, for a total transaction of $162,271.59. Following the completion of the sale, the chief financial officer now directly owns 35,333 shares of the company’s stock, valued at $2,410,063.93. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Matthew W. Chapman sold 1,000 shares of the stock in a transaction dated Tuesday, August 23rd. The shares were sold at an average price of $68.21, for a total transaction of $68,210.00. Following the sale, the director now directly owns 37,682 shares of the company’s stock, valued at $2,570,289.22. The disclosure for this sale can be found here. 2.00% of the stock is owned by insiders.

Microchip Technology Price Performance

Microchip Technology stock traded down $2.15 during mid-day trading on Friday, reaching $61.16. 156,111 shares of the company’s stock traded hands, compared to its average volume of 4,583,577. The company has a market cap of $33.79 billion, a price-to-earnings ratio of 23.28, a PEG ratio of 0.82 and a beta of 1.62. The stock has a 50 day moving average of $67.40 and a two-hundred day moving average of $67.11. The company has a quick ratio of 1.17, a current ratio of 1.78 and a debt-to-equity ratio of 1.27. Microchip Technology Incorporated has a 12-month low of $54.33 and a 12-month high of $90.00.

Microchip Technology (NASDAQ:MCHPGet Rating) last posted its quarterly earnings data on Tuesday, August 2nd. The semiconductor company reported $1.37 earnings per share for the quarter, beating analysts’ consensus estimates of $1.27 by $0.10. Microchip Technology had a net margin of 21.34% and a return on equity of 44.90%. During the same quarter in the previous year, the business earned $0.88 EPS. Equities analysts forecast that Microchip Technology Incorporated will post 5.42 earnings per share for the current year.

Microchip Technology Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 2nd. Investors of record on Friday, August 19th were paid a $0.301 dividend. The ex-dividend date was Thursday, August 18th. This is a positive change from Microchip Technology’s previous quarterly dividend of $0.28. This represents a $1.20 dividend on an annualized basis and a yield of 1.97%. Microchip Technology’s dividend payout ratio is 44.12%.

Analysts Set New Price Targets

MCHP has been the topic of a number of research reports. Stifel Nicolaus upgraded Microchip Technology from a “hold” rating to a “buy” rating and boosted their price objective for the company from $70.00 to $75.00 in a research note on Tuesday, June 28th. Wells Fargo & Company boosted their price objective on Microchip Technology from $60.00 to $75.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 3rd. Cowen boosted their price objective on Microchip Technology from $60.00 to $72.00 and gave the company an “outperform” rating in a research note on Wednesday, August 3rd. Morgan Stanley lifted their target price on Microchip Technology from $81.00 to $82.00 and gave the company an “overweight” rating in a report on Wednesday, August 3rd. Finally, Cowen lifted their target price on Microchip Technology from $60.00 to $72.00 and gave the company an “outperform” rating in a report on Wednesday, August 3rd. Four equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $89.73.

Microchip Technology Profile

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Microchip Technology Incorporated develops, manufactures, and sells smart, connected, and secure embedded control solutions in the Americas, Europe, and Asia. The company offers general purpose 8-bit, 16-bit, and 32-bit microcontrollers; 32-bit embedded microprocessors markets; and specialized microcontrollers for automotive, industrial, computing, communications, lighting, power supplies, motor control, human machine interface, security, wired connectivity, and wireless connectivity applications.

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Institutional Ownership by Quarter for Microchip Technology (NASDAQ:MCHP)

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